Four major crises occurred in the USA in 1825, 1873, 1907 and 1929 ending with the Great Crash in 1929. The first three passed off quickly and were followed by healthy recoveries. The one in 1929 led to the Great Depression and only ended with the onset of WWII. The objective is to examine the circumstances and events leading up to each of the four panics to identify the factors responsible for the financial booms which turned into bubbles and eventually led to panics. The factors responsible will include: